Najib Plans Budget Measures After Fitch Cuts Malaysia’s Outlook. Malaysian Prime Minister Najib Razak said he’ll announced steps in his budget speech later this year to tackle risks to the fiscal position outlined by Fitch Ratings. “We are just looking at various policy options but we do understand that there’s a need for us to strengthen the fiscal and macro position of the government,” he said. “The actual details will be unveiled shortly, particularly in the forthcoming budget.” “It’s important for us to reduce our vulnerabilities and one of the areas is in the fiscal area,” central bank Governor Zeti Akhtar Aziz told reporters at the same event. “Malaysia has the capacity and capability to address it in a gradual and sequent manner.” Malaysia remains committed to trimming the deficit to 3 % of gross domestic product by 2015 and won’t let state debt exceed 55 % of GDP, the government said in an emailed statement yesterday. It still plans to reduce subsidies and broaden the tax base, it said. Source : Bloomberg
Posted on: Mon, 05 Aug 2013 15:19:22 +0000
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